By Priya Raghuvanshi

Copyright timesnownews

The FMCG giant, Unilever, has appointed Srinivas Phatak, an Indian-origin finance veteran, as its new Chief Financial Officer, the consumer goods firm announced on Tuesday. Phatak steps into the role following Fernando Fernandez’s promotion to CEO as part of a wider leadership reshuffle at the Anglo-Dutch company. Phatak’s elevation to CFO also makes him an official member of Unilever’s board, effective immediately. He has been serving as the company’s acting CFO since March 2025, after having been Deputy CFO and Group Controller. Proven Expertise And Board Confidence Unilever confirmed that a thorough search process culminated in unanimous board approval for Phatak’s appointment, highlighting his strong industry knowledge and impressive performance as acting CFO. “Following that process, the Unilever Board is in unanimous agreement that Srinivas is the best candidate for the role,” the company said in an official statement, as per a Bloomberg report. Phatak’s expertise in financial stewardship is underscored by his instrumental role in Unilever’s enterprise-wide transformation projects, including productivity enhancement, integrated operations, and technological upgrades. Career Journey And Leadership Impact Srinivas Phatak’s impressive career began after earning his Chartered Accountant qualification from the Institute of Chartered Accountants of India. He started at ITC in 1996 before joining Unilever India in 1999. Over 25 years at Unilever, he has held multiple finance and commercial roles, including CFO of Hindustan Unilever Limited and Vice President of Finance for South Asia. During his tenure in India, he helped drive market share growth and margin expansion. Before becoming acting CFO, Phatak was Deputy CFO and Controller, responsible for group-wide performance management. Srinivas Phatak’s Compensation Phatak will receive a fixed annual salary of €1.2 million (approximately $1.4 million), alongside eligibility for bonuses and performance-based awards, the comapny said according to a Bloomberg report. He is also entitled to localisation support according to company policies. His appointment comes as Unilever gears up for significant strategic moves, including the planned spin-off of its ice cream business later this year. Fernandez aims to streamline management and boost margins, setting the stage for Phatak to play a critical financial leadership role.